Indonesia's Bank Neo Commerce bets big on digital banking, lines up expansion plans

Indonesia’s Bank Neo Commerce, backed by finance platform Akulaku, is looking to ramp up its online lending business at a time when the sector is witnessing tremendous growth in the country.

According to data from Indonesia’s Financial Services Authority (OJK),  the total outstanding loans for the peer-to-peer lending industry grew 95.16% last year to 29.88 trillion in 2021.

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